Multibagger stocks in India: The last year has been quite challenging for the Indian stock market. Every time bulls tried to take control over bears, triggers like Trump’s tariffs, global trade war buzz, geopolitical tension, especially the US-Iran and the Russia-Ukraine war, severely hit the bulls’ sentiment and created a window of opportunity for bears.
Continuous selling by FIIs and free fall in the Indian National Rupee (INR) against the US Dollar (USD), were some other tools that also gave bears an edge over bulls. However, there are some stocks listed on Dalal Street, which stood against all these odds and delivered whopping returns to their respective shareholders.
Multibagger stocks in India since the last Budget
As the Union Budget 2026 date is fast approaching, here we list out the five stocks that have delivered multibagger returns since the last budget:
1]Midwest Gold: Among the multibagger stocks that have stood against all odds since the last budget, the Midwest Gold share price rally tops the list. This multibagger stock has risen from around ₹155 ₹5506 per share on the BSE, delivering over 3400% returns to its shareholders since the last budget. The multibagger stock rose 5% on the penultimate day before Budget 2026. The stock has risen by around 285% in the last six months, while in January, this multibagger stock surged over 15%.
2]GHV Infra Projects: This infra stock has risen from ₹28 to ₹229 apiece levels since the last budget, delivering over 700% returns to its shareholders. This could become a multibagger, topping out in mid-August 2025 after hitting a record high of ₹362.40 per share on the BSE. Since mid-August 2025, the stock has remained an ideal sell-on-rise stock for investors.
3]Synthetic foils: This is another infra stock that has delivered multibagger returns to its shareholders since the last budget. This stock has delivered returns of around 725% to its shareholders, rising from ₹223 ₹1,839 per share in the last year.
4]Hindustan Copper: This commodity stock is one of the major beneficiaries, whose balance sheet zoomed due to the soaring gold and silver prices. In the last few years, the metal company benefited from the rise in base metals. In the last year, this multibagger stock has delivered over 180% returns by rising from around ₹239 ₹676. Over the last six months, the multibagger stock has delivered returns of over 175%.
5]MCX: This multibagger stock has delivered around 120% return to its shareholders since the last budget.
According to market experts, the Central Government is expected to increase budget allocation to defense and infrastructure, especially the railway, oil, and energy sectors. They are expecting a consumer-oriented budget to counter external threats such as trade wars, tariffs, and geopolitical tensions.
Jefferies believes a sharper push in defense capex, potentially growing by more than 20%, would be a clear positive for defense PSUs and contractors, while incentives linked to affordable housing and insurance could support lenders and life insurers. The global brokerage sees the government continuing on the path of fiscal consolidation, albeit at a slower pace, with FY27 deficit seen around 4.2-4.4% of GDP.
Key Takeaways
- Investors should identify multibagger stocks that can withstand market volatility.
- The upcoming Union Budget may create opportunities for sectors like defense and infrastructure.
- Understanding historical stock performance can guide future investment decisions.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
